Where the market should be.

[Sheikh_yer_Bu'Tay]

This is where the market should be, but it's not. I will wait and call in a few days to see if they sold.

You guys that sell for 1.4 x face..... Do you make even minimum wage even 10% for all your time, trouble, gas, wear & tear on your equipment and vehicles, electricity, storage, and everything else? EDIT: What is your rate of Return On Investment (ROI)??

There have been threads on this subject many times. Maybe I am just a little slow, but I don't see the profit in 1.4 x face.

Yes, I know, these are Wheats instead of plain coppers, but RealCent was suppose to be about market development. I would not call 1.4 x face market development.

[wheeler_dealer]

Sheik, veteran sorters would probably agree. The general population seems to have found pennies of profit to be made selling on fee bay. Let them. We tend to put more value on our time and thus hold out for higher prices. We can use this to our advantage and buy theirs to build our hoard.

[Sheikh_yer_Bu'Tay]

That is what I am doing WD. I am holding on to what I've got. My logic is someday in the future the coppers will be worth far more than they are today. Maybe I have a long wait ahead of me!

I know others want to turn their money for the cash flow and by flipping their money many times in a year they ultimately make a profit that is a good return on investment (ROI) for them.

I will go back to my original post and frame my question differently. Truly, I want to know the rate of return on investment (%) the 1.4 x face guys make.

[shinnosuke]

Other than some BU penny rolls from the 60's and some wheats that I sold at 4 cents each, I haven't sold any pennies and can't give you my ROI. If I were to sell at 1.4XFV, I would definitely sell at a loss because my time is worth much more than the coppers I extract. 12% or so in South Texas makes for a horrible return. But I keep sorting because one day...some day...the coppers will be needed as a true value exchange mechanism.

Recently I discovered a guy in my town who owns a small resale shop (not just coins) and will pay me 5 cents each for wheats. He marks them up to 10 cents and sells a few at a time.

[Sheikh_yer_Bu'Tay]

The last time I saw a $50 FV bag of Wheats in a Tulsa LCS was almost two years ago. Those bags were selling for $225.00 each. That is 4.5 x FV.

[HoardCopperByTheTon]

I would be happy to send you guys a few CTU's of wheats for below market so you can flip them for a profit.. I work cheap!

[scyther]

Yeah, I always thought the market value of wheats was 3-5 cents. That picture indicates 8 cents each. So I don't think they're getting many offers.

As for me, I won't sell my copper for less than 2x face. My time is very cheap, but not that cheap. I guess it would be more economical to just buy someone else's copper cheap now, but I like sorting coins and have nothing better to do. Also there's a chance I could actually lose money if copper goes down a lot and people decide they don't like copper pennies anymore.

[Zincanator]

Bags of wheats were going for 4xFV last coin show I went to. Some guy bought them all in the first few minutes of the show, before I even had a chance to look, and needed heavy duty moving cart to get them all outta there.

[Sheikh_yer_Bu'Tay]

I would be happy to send you guys a few CTU's of wheats for below market so you can flip them for a profit.. I work cheap!

Hoard, with all your equipment, you are the one guy I could see being able to sell at 1.4 x FV and still clear some profit. Economy of scale.

I haven't made that phone call yet. Gotta remember to call them tomorrow! Who knows? Maybe they sold them all and have back orders!

[HoardCopperByTheTon]

Hoard, with all your equipment, you are the one guy I could see being able to sell at 1.4 x FV and still clear some profit. Economy of scale.

I could.. but I am greedy.. I have a bad coin and bullion habit to support. I want 1.45x right now. Next week I am raising it to 1.5X.. how's that for market development?

[scyther]

Okay, in all seriousness, Adam Young-deification aside, who sorts more, Hoard or Highroller? I assume the most on the forum must be one of them, right?

[HoardCopperByTheTon]

Hands down.. it is the chosen one. He has more and bigger machines than me.. and he does it for a living.

And to think I sold that guy his first Ryedale and counting machine a few years ago.

I have a day job.. and I spend a lot of time at it. Sorting pennies is just a hobby for me.

Of course if you were to count sorting of "All material" I would probably have him by a couple of hundred tons a day.

[Sheikh_yer_Bu'Tay]

Hoard, with all your equipment, you are the one guy I could see being able to sell at 1.4 x FV and still clear some profit. Economy of scale.

I could.. but I am greedy.. I have a bad coin and bullion habit to support. I want 1.45x right now. Next week I am raising it to 1.5X.. how's that for market development?

Now you're talkin'!

I have called that number three times today. It's weird. It will ring a few times and then picks up, but there is no one on the other end of the line. Dead silence. Maybe they were so flooded with phone calls for 8 cent wheaties they can't take it anymore!

[stonewallrabbitry]

With the Ryedale Ace it takes me 16 hours of sorting to get a ctu, when I do sell some it is to local guy for 1.6 face so that is 3.75 an hour. I really dont look at the time as work though, I sort while I am sitting in front of the TV so that would be wasted time anyway. I don't sell everything, I usually keep one ctu for myself and sell one. In my mind I have 200.00 invested in two ctu, sell one of them for 160.00 so that means I only have 40.00 invested in the ctu that I keep. I drive by mt pick up and dump bank every Friday anyway so I really don't use any gas

[scyther]

Hands down.. it is the chosen one. He has more and bigger machines than me.. and he does it for a living.

And to think I sold that guy his first Ryedale and counting machine a few years ago.

I have a day job.. and I spend a lot of time at it. Sorting pennies is just a hobby for me.

Of course if you were to count sorting of "All material" I would probably have him by a couple of hundred tons a day.

I don't really get that last part... do you sort something else for your job?

[scyther]

With the Ryedale Ace it takes me 16 hours of sorting to get a ctu

Uh... really? What copper percentage do you have? I'm a handsorter and I think I get at least 1 ctu in 16 hours of sorting...

[dakota1955]

I just got rid of 35 ctu because of the fact that I might be moving and did not want to move 1 1/2 tons of coins. But I did not sell the ctu I traded for silver and the couple ctu I got cash for when right into silver. I believe the up side for silver is sooner than copper. So now I sort again and I get just under 30% copper this week on $150.00 in bags.

[Sheikh_yer_Bu'Tay]

With the Ryedale Ace it takes me 16 hours of sorting to get a ctu, when I do sell some it is to local guy for 1.6 face so that is 3.75 an hour. I really dont look at the time as work though, I sort while I am sitting in front of the TV so that would be wasted time anyway. I don't sell everything, I usually keep one ctu for myself and sell one. In my mind I have 200.00 invested in two ctu, sell one of them for 160.00 so that means I only have 40.00 invested in the ctu that I keep. I drive by mt pick up and dump bank every Friday anyway so I really don't use any gas

Speaking like my AgEcon Prof did way back in the day.... "Awww, nuts! Where to begin?"

[Sheikh_yer_Bu'Tay]

Okay, I finally got to talk to the guy selling the coins. He sold 10 rolls over the weekend at 8 cents per wheatie! These are sorted rolls! He has gone thru the coins and cherry picked what he wants to keep and still sells them for $40 $4.00 per roll!!! He says he has 50 more rolls to sell. This is the market in Tulsa!

Edit: Sorry for the error.

[duane1966]

8 cents each is $4 per roll. The 10 rolls sold for $40. I think he was fortunate to find someone to buy them but I'm sure he will struggle to sell the rest of what he has. Assuming his ad was free he did well.

[SilverDragon72]

Hands down.. it is the chosen one. He has more and bigger machines than me.. and he does it for a living.

And to think I sold that guy his first Ryedale and counting machine a few years ago.

I have a day job.. and I spend a lot of time at it. Sorting pennies is just a hobby for me.

Of course if you were to count sorting of "All material" I would probably have him by a couple of hundred tons a day.

Sorry Hoard, but you know the bigger sorter is Adam!

I would love to see both sorting operations though....how cool would that be?

[Sheikh_yer_Bu'Tay]

8 cents each is $4 per roll. The 10 rolls sold for $40. I think he was fortunate to find someone to buy them but I'm sure he will struggle to sell the rest of what he has. Assuming his ad was free he did well.

Thanks for pointing out my error. I corrected it. The ad cost money in the local newspaper. I don't know for how much. In talking to the man, he was sure he would sell all his Wheaties for $4.00 per roll. His goal is to convert everything into silver.

Read Shinnosuke's post above. He found someone selling Wheaties for 10 cents each.

If you (the penny sorter) don't value your hard work, no one else will either. Ask for more money. Other people are getting paid for it.

[HoardCopperByTheTon]

I'm going to ask 12 cents for my wheats.. and convert it all into silver.

[slickeast]

Adam sorts more pennies in one day than every member combined sorts is a week.

[scyther]

If I were to sell my wheats, I wouldn't let them go for less than 10 cents each. I only have like 6-700. It took to much time to accumulate them. That said, I'm not planning to sell at all. They're more just a fun bonus to make copper sorting more fun.